The global market for smart water management has witnessed the emergence of several new market players due to weak entry barriers. Despite the expertise and technological prowess required to cater to the needs of the market, the number of market vendors has been increasing lately. It is anticipated that the market would soon display an extremely fragmented competitive landscape due to the existence of small, medium, and large-scale players.
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Furthermore, the market players who have a proven record of excellence in the domain of smart water management are expected to keep benefitting from their positive image in the market. Furthermore, the competition amongst the market players is expected to intensify due to the ardent efforts of the market players to establish their footholds. Owing to the scantiness of fresh water reserves, the demand for smart water management has reached unprecedented levels. Hence, all the market players are on their toes to tap into the market gap that currently exists across the globe.
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The global market for smart water management has been growing at the back of several extrinsic and intrinsic factors pertaining to the use of water management systems. Primarily, the demand within the market has seen an upsurge due to the development of automation technologies such as automated meter reading. Energy production can be easily monitored with the help of automated meter reading systems which in turns enhances customer service.
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